Analyst: Bitcoin short-term holders have not yet taken significant profits to form selling pressure, and the upward momentum is still accumulating

Odaily Planet News, CryptoQuant analyst Axel Adler Jr. posted on X, saying, "Short-term Bitcoin holders (holding for 1 to 3 months) represent the most aggressive market participants, including professional speculators trading Bitcoin through ETF brokers. In the current bull market cycle, their Net Unrealized Profit and Loss (NUPL) typically rises to over 40%, after which they begin to take profits, creating selling pressure in the spot market. Currently, this group's NUPL is 8%, and its 30-day Simple Moving Average (SMA) remains negative, staying at -2%. Before the NUPL breaks through 40%, the selling pressure from this group will remain low, which is seen as a bullish signal."